Friday, October 11, 2019

ASIC warns self-funded super scheme "inappropriate" for unsophisticated investors. I speak with ASIC commissioner Danielle Press

Inexperienced investors considering a self-managed superannuation fund could be risk losing all or some of their retirement nest egg in the event of a global economic shock, the corporate regulator has warned. 

"designing the grid of the future" - blueprint from the AEMC

The Australian Securities and Investments Commission says the potential toxic mix of near zero interest rates and low inflation means even professional advisers are struggling to make a return and that future and current retirees need to be "particularly aware of potential downsides" that might make self-managed funds inappropriate. 

ASIC commissioner Danielle Press speaks with ABC's Peter Ryan.

Thursday, October 10, 2019

Dodgy insolvency practices in small business ombudsman inquiry's cross hairs

Insolvency practitioners who escaped the scrutiny of last year's financial services royal commission will be targeted in a wide-ranging new inquiry by the Small Business and Family Enterprise Ombudsman. 

Announcing the inquiry this morning, ombudsman Kate Carnell said there were questions about whether the current insolvency system encourages practitioners to restructure and turn a business around rather than sending it into administration. 

Ms Carnell told ABC's Peter Ryan that the Royal Commission was "a lost opportunity"



The Australian Restructuring Insolvency and Turnaround Association has slammed the inquiry as yet another one with narrow terms of reference.



Tuesday, October 8, 2019

Investors scared off by "big stick" power plays in energy sector, Grattan Institute report warns


The Grattan Institute is warning that "big stick" intervention by Australian governments is discouraging investment in new energy infrastructure. 

Energy policy director Tony Wood tells ABC's Peter Ryan that despite good intentions, doing nothing might have been a better strategy with foreign investors now nervous about potential political meddling in a supposedly free market.

Read the Grattan Institute report here

Monday, October 7, 2019

Nine in almost total control of Macquarie Media - but fund manager Geoff Wilson still unhappy

Nine Entertainment has seized 92 percent of Macquarie Media and says it will compulsorily acquire the rest if small shareholders continue to resist. 

Wilson Asset Management chairman Geoff Wilson is holding out and says the $1.46 on offer is low ball and not in the interests of shareholders. 

However, Mr Wilson tells ABC's Peter Ryan he is in a difficult position given that key shareholders John Singleton, Alan Jones and Mark Carnegie have now accepted the offer.

Amazon cloud pervasive in your life - from "the flying kangaroo" to koala genetics

Expectations are high these days for internet services that come via the "cloud" whether it's calling an Uber or watching the latest Netflix show. 

One of the world's biggest cloud providers Amazon Web Services is working with Qantas to help fine tune plans to fly non-stop to New York while working with Australian researchers on the genetics of koalas. 

Amazon's chief evangelist Jeff Barr spoke in Sydney recently with ABC's Peter Ryan.


Amazon chief evangelist Jeff Barr (right) in the studio with ABC's Peter Ryan